Robin Thicke and Paula Patton did not have the affectionate Valentine’s
Day that all assumed. Announcing their separation in February shocked
Hollywood and meant that the assets and liabilities shared by the spouses
would have to be divided.
It is often the case that the matrimonial home is one of the most significant
assets of the parties involved in a divorce. The matrimonial home is defined
as “every property in which a person has an interest and that is
or, if the spouses have separated, was at the time of separation ordinarily
occupied by the person and his or her spouse as their family residence”
(section 18(1) of the
Family Law Act). Often with fame and fortune comes a luxurious and expensive matrimonial home.
Want to find your way into luxurious home previously owned by a celebrity?
TMZ has confirmed that the 3,158 square foot home has been listed as of
July 21, 2014. Is the home affordable to you? Probably not, they are asking
for a whopping $2,985,000.
One thing is clear from this story – one of the best investments
an individual can make is in property. Especially considering that Alan
Thicke, Robin’s dad, purchased the home for $910,000. Well it appears
as though Robin will be cashing in on a good investment.
Not so fast! Title of the property is under Robin’s name and the split
with Paula brings on a whole new level of devastation for this Hollywood
star. Robin has made several public attempts to get back together with
Paula. After speaking with his counsel, Robin may become more elaborate
in these attempts as he will truly understand the meaning of “Lost
without You” after receiving advice on his family law matter.
Let us consider how the separation affects the sale of the matrimonial
home from an Ontarian legal perspective.
The Sale of the Home
First, the home may not be sold without the other spouse’s consent,
regardless of whose name is on the deed.
Determining Net Family Property
Second, according to section 4(2) of the
Family Law Act permits a spouse to exclude certain defined property if it is owned on
valuation day. Let us assume that the home was given to Robin during his
marriage to Paula. According to section 4(2) of the Family Law Act property
acquired by gift or inheritance from a third party after the date of the
marriage may be excluded from a spouse’s net family property!
Better hit the brakes. In fact, put the car in reverse. Unfortunately for
Robin there is an exception to this exception. If the property acquired
by gift or inheritance from a third party (i.e. Robin’s dad) is the
matrimonial home it cannot be excluded.
Section 4(2) of the
Family Law Act puts another arrow through Robin’s broken heart and deals a blow to
his net worth.
Robin did your family law lawyer encourage you to produce “Get Her
Back”? All kidding aside, the gift from Dad will in the end have
to be shared between Robin and Paula.